HC Wainwright Cuts Franco-Nevada (NYSE:FNV) Price Target to $155.00

Franco-Nevada (NYSE:FNV) (TSE:FNV) had its price objective decreased by HC Wainwright from $200.00 to $155.00 in a research note released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the basic materials company’s stock.

FNV has been the subject of several other research reports. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Scotiabank reduced their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group lowered their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Stock Up 0.9 %

FNV opened at $116.21 on Friday. The stock’s 50 day moving average price is $124.75 and its two-hundred day moving average price is $123.32. The firm has a market capitalization of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72. Franco-Nevada has a 12-month low of $103.64 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The business’s revenue was down 10.9% compared to the same quarter last year. As a group, analysts anticipate that Franco-Nevada will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.24%. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Hedge Funds Weigh In On Franco-Nevada

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Franco-Nevada in the second quarter valued at approximately $276,446,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Franco-Nevada by 31.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,043 shares of the basic materials company’s stock worth $1,783,000 after purchasing an additional 3,626 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after buying an additional 101 shares during the period. Ridgewood Investments LLC acquired a new position in Franco-Nevada during the 2nd quarter worth approximately $68,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Franco-Nevada by 3.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,813 shares of the basic materials company’s stock worth $9,816,000 after acquiring an additional 2,751 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.